OCR Labs Global: the US is a feeding ground for fraudsters
The vast investment in the US market is eye-watering, bringing with it significant fraud and ID challenges. Fiona
Davies, Head of Gaming at OCR Labs Global, says the race to gain market share serves as a feeding ground for an industry of fraudsters, and questions whether operators want high player volumes at any cost or a house full of sustainable, fully-validated players.
all documents being checked.
Tis allows a large window for fraud to get in, and this is why we have created a technology that removes any need for human intervention. You can trust that the tech won’t pass through any fraud, and all good customers will make it through the process quickly and accurately.
Our founders’ aim is to offer the industry a new style of technology that thinks differently - one that can decipher and learn in real-time and isn't restricted to a templated approach. Using our unique Deep Neural Network, when we are presented with a new fraud type, we are able to flag and review it within the day. And because it’s our own technology, we can then adapt what we see in fraud patterns as they evolve.
What is an example of this?
On a recent data test with a large sports book - we flagged two documents that had passed through their vendor check as real IDs. Tese
The vast investment in the US market is eye-watering. What do operators want, high player volumes at any cost or a house full of good sustainable, fully-
validated players? This debate will undoubtedly continue and will bear out operationally over the next few years as the
bottom line will tell a tale of its own.
two IDs also had been reviewed by the supplier’s agents and had also been reviewed by the operator’s team. Te operators came to us and said they had passed three checks and were good IDs.
Fiona Davies Head of Gaming, OCR Labs Global
We had correctly identified these IDs were fake, as we could see what none of the other checks could - that the hand holding the ID and the background were the same in all the images captured. Tis is one example of how our tech is not just looking at the ID itself; it is also analysing and learning from the images we see in the background. Tese images, once seen, are never forgotten by our tech - hence we could determine that it was a fraud.
What is the cost of onboarding fraudulent users?
Te cost of onboarding fraudulent users will depend on the market. I’d argue that the real question is, what is the lifetime value of a client? Te cost of onboarding a fake is not just the loss of revenue but also the time and cost to the business operationally - you end up spending more time and money on bad clients than good ones.
As an industry, we are too focused on NEWSWIRE / INTERACTIVE / MARKET DATA P91
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